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Tax reform in China: it reduces the current corporate income tax rate from 33% to 25%. Besides, the new Corporate Income Tax Law ("CIT Law") reflects four tax reform themes that China seeks to develop:
1. a less complicated tax system;
2. a broader tax base;
3. a lower tax rate; and
4. a stronger tax administration.
There is an interesting article about these tax reforms on IndustryWeek.

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